Order

1. The Application seeking Permission to Appeal is refused; and

2. The Applicant is ordered to pay the reasonable costs of the Respondent and the Interested Party as agreed between the Parties or, failing such agreement, as assessed by the Registrar.

Judgment

Introduction

1. This is an application for permission to appeal a Decision of the Regulatory Tribunal (Sir David Keene, Chairman, Justices Gianviti and Li) in Case No 2/2018 dated 12 December 2018.

Relevant Framework

2. Article 35 of the QFC Civil and Commercial Court Regulations and Procedural Rules provides as relevant:

35.2 The Appellate Division Court shall, in addition, have power to hear appeals from determination and decisions of the Regulatory Tribunal as set out in Article 8(3)(c) of the QFC Law, but only:

35.2.1 if the Regulatory Tribunal has made a determination in relation to its jurisdiction and there is a dispute in relation to that determination; or if there are substantial grounds for considering that a judgment or decision is erroneous and there is a significant risk that the decision will result in serious injustice; and